You can set up budgets for all or selected GL accounts for any year.
You may also make revisions to budgets and keep them on file as desired, identifying each one with a unique code that you designate. Reports may be formatted to do comparisons of actuals to budgets with variances. Using these budget features is strictly optional, and they may be implemented at any time.
Budgets may be set up for forecasting purposes for future years as well as the current year. In fact, multiple future years may be accessed for budget setup. The GL system does not use the budget figures in its standard reporting other than a listing of budget figures for purposes of reviewing input.